On May 28, BTC failed to maintain a breakthrough after reaching an all-time high of 112,000 on May 22, with recent prices fluctuating in the range of 107,800 to 110,500, forming a converging triangle pattern, with intense competition between bulls and bears.

1. Review of Yesterday

38,607,318,119: Lowest point yesterday 107,438, highest point 110,700, fluctuation 3,262, amplitude 2.95%

80,771,105,498: Lowest point yesterday 2,508, highest point 2,711, fluctuation 203.8, amplitude 7.52% 

2. Today's Analysis

BTC is currently quoted at 108,625, with the market currently operating within a descending channel, showing a converging triangle, and the short-term direction is unclear. Indicators such as RSI may indicate adjustment signals after overbought conditions, and caution is needed for the risk of a rapid decline. Recent on-chain data shows that BTC trading volume on exchanges has decreased, reflecting weakened investor interest and network usage, which may lead to increased price volatility. BTC is currently in a high-level consolidation phase, and in the short term, attention should be paid to the breakout situation at the support of 107,800 and the resistance of 110,500. In the long term, institutional capital inflows and macroeconomic favorable conditions support bullish expectations,

BTC Resistance: 110,500 is the short-term resistance; if broken, it may challenge the historical high of 112,000.

BTC Support: 107,800 is the key short-term support; if it breaks, it may further decline to 104,000 or lower to 102,000.

ETH is currently quoted at 2,633, with Ethereum currently operating within a descending channel, forming a converging triangle pattern, with unclear short-term bullish and bearish direction. The daily MACD is opening downwards, and the middle Bollinger band is facing a test; if it breaks, it may trigger a spike down. The daily trading volume has doubled compared to the previous three days but remains within a normal range, and RSI shows neutral to overbought, requiring caution for correction risks. Ethereum is expected to fluctuate in the range of 2,520 to 2,738 in the short term. Breaking through 2,738 may trigger a head and shoulders bottom pattern, targeting 2,880. If it breaks below 2,520, attention should be paid to the 2,400 support.

ETH Resistance: 2,738 is the key short-term resistance; breaking through may form a head and shoulders bottom pattern, targeting 2,880 or higher.

ETH Support: 2,520 to 2,530 is the short-term support, with the trendline coinciding here; if it breaks, it may further decline to 2,400 or lower to 2,150 (the low on February 3).

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